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100% Pass 2026 Reliable NMLS MLO: Mortgage Loan Origination (SAFE MLO) Exam Accu

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100% Pass 2026 Reliable NMLS MLO: Mortgage Loan Origination (SAFE MLO) Exam Accu

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NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q30-Q35):NEW QUESTION # 30
Which of the following responses describes servicing transfers?
  • A. The transfer of the responsibility to collect payments on the loan from one lender to another
  • B. The transfer of a HUD case number from one lender to another
  • C. The transfer of an appraisal from one lender to another
  • D. The transfer of the processing of a loan to an independent service provider such as a contract processing provider
Answer: A
Explanation:
A servicing transfer is when the responsibility for collecting payments, managing escrow accounts, and handling other aspects of loan servicing is moved from one lender or servicer to another. This is regulated by RESPA, which requires timely notification to borrowers.
"A servicing transfer is the transfer of the right to collect payments and service a mortgage loan from one servicer to another."
- CFPB, RESPA Servicing Transfer Disclosures
References:
CFPB, Mortgage Servicing Transfers
SAFE MLO National Test Study Guide

NEW QUESTION # 31
A charge payable by the consumer and imposed by the creditor as an incident to or a condition of the extension of credit is the:
  • A. Attorney fee
  • B. Escrow charge
  • C. Title fee
  • D. Finance charge
Answer: D
Explanation:
Under TILA/Regulation Z, a finance charge is any charge payable directly or indirectly by the consumer and imposed as a condition of the extension of credit.
"The finance charge is the cost of consumer credit as a dollar amount. It includes any charge payable by the consumer and imposed by the creditor as a condition of or an incident to the extension of credit."
- 12 CFR § 1026.4(a), Regulation Z
References:
CFPB, What is a finance charge?

NEW QUESTION # 32
What is the maximum civil penalty that is permitted to be imposed for each violation or failure to comply with the SAFE Act?
  • A. $25, 000 for each act or omission: $250,000 maximum
  • B. 000 for each act or omission
  • C. $2,500 for each act or omission
  • D. $2,500 for each act or omission; $25,000 maximum
Answer: C
Explanation:
Under the SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act), the maximum civil penalty for each violation or failure to comply is $25,000 per act or omission. This applies to mortgage loan originators (MLOs) and others who violate licensing or regulatory requirements under the SAFE Act.
Violations can include actions such as failing to obtain proper licensure or engaging in fraudulent lending practices.
References:
* SAFE Act, 12 USC §5107
* NMLS Enforcement Guidelines

NEW QUESTION # 33
Which of the following characteristics is unique to a home equity line of credit (HELOC)?
  • A. A borrower is permitted to borrow more than the property is worth.
  • B. A borrower is permitted to receive additional advances.
  • C. A borrower is permitted to make interest-only payments for the term of the loan.
  • D. A borrower is permitted to sell the property without paying off the loan.
Answer: B
Explanation:
A home equity line of credit (HELOC) is a revolving form of credit secured by the equity in the borrower's home. What is unique about a HELOC, compared to traditional closed-end loans, is that the borrower can take multiple draws or advances up to the credit limit during the draw period.
"A HELOC is a line of credit extended to a homeowner that uses the borrower's home as collateral. The distinguishing feature of a HELOC is that the borrower may take additional advances at his or her discretion, up to the approved credit limit, during the draw period."
- SAFE MLO National Test Study Guide
Other answers:
Interest-only payments can occur in some loan types but are not unique to HELOCs.
Borrowing more than the property is worth (being "underwater") is not allowed.
Selling the property without paying off the loan is not permitted; the HELOC must be satisfied at sale.
References:
CFPB, What is a HELOC?
SAFE MLO National Test Study Guide

NEW QUESTION # 34
Prepaid charges include which of the following items?
  • A. Conveyance tax
  • B. Credit report fee
  • C. Origination fee
  • D. Per diem interest
Answer: D
Explanation:
Prepaid charges refer to certain upfront costs paid at closing. These include:
* Per diem interest (D), which covers the interest from the closing date to the end of the month.
Other items like origination fees (A), credit report fees (B), and conveyance taxes (C) are not considered prepaid charges; they are typically categorized as closing costs or settlement fees.
References:
* Real Estate Settlement Procedures Act (RESPA)
* TILA-RESPA Integrated Disclosures (TRID)

NEW QUESTION # 35
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